PROSHARES ULTRA SMALLCAP600 PROSHARES Stock Forecast
Green day on Friday for PROSHARES ULTRA SMALLCAP600 PROSHARES stock after gaining 1.10%
(Updated on Apr 19, 2024)
The PROSHARES ULTRA SMALLCAP600 PROSHARES stock price gained 1.10% on the last trading day (Friday, 19th Apr 2024), rising from £182.00 to £184.00. During the last trading day the stock fluctuated 2.05% from a day low at £180.50 to a day high of £184.20. The price has risen in 5 of the last 10 days and is up by 6.98% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 175 thousand more shares were traded than the day before. In total, 198 thousand shares were bought and sold for approximately £36.50 million.
The stock has broken the horizontal trend up. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately. £181.85 is considered to be a "second chance" to hit a potential runner. It is, however, important that volume does follow the price as false breaks may appear and it may move back into the horizontal trend. Based on the rectangle-formation theory the stock is predicted to reach £192.13 sometime during the next 3 months.
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SAA.L Signals & Forecast
Mostly positive signals in the chart today. The PROSHARES ULTRA SMALLCAP600 PROSHARES stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at £181.64 and £176.91. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, April 03, 2024, and so far it has risen 7.60%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for PROSHARES ULTRA SMALLCAP600 PROSHARES stock
PROSHARES ULTRA SMALLCAP600 PROSHARES finds support from accumulated volume at £183.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £3.70 (2.05%) between high and low. For the last week, the stock has had daily average volatility of 2.43%.
Our recommended stop-loss: £175.35 (-4.70%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (SAA.L) For The Upcoming Trading Day Of Monday 22nd
For the upcoming trading day on Monday, 22nd we expect PROSHARES ULTRA SMALLCAP600 PROSHARES ULTRA SMALLCAP600 to open at £182.90, and during the day (based on 14 day Average True Range), to move between £179.37 and £188.63, which gives a possible trading interval of +/-£4.63 (+/-2.51%) up or down from last closing price. If PROSHARES ULTRA SMALLCAP600 PROSHARES ULTRA SMALLCAP600 takes out the full calculated possible swing range there will be an estimated 5.03% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ £183.50, some £0.500 (0.27%) from the current price of £184.00, our system finds the risk reward attractive.
Is PROSHARES ULTRA SMALLCAP600 PROSHARES ULTRA SMALLCAP600 stock A Buy?
Several short-term signals are positive and the stock has broken the horizontal trend up, which indicates an even stronger rate of rising. We conclude that the current level may hold a buying opportunity as there is a fair chance for PROSHARES ULTRA SMALLCAP600 PROSHARES stock to perform well in the short-term period.
Current score: 3.285 Buy Candidate Unchanged
Predicted Opening Price for PROSHARES ULTRA SMALLCAP600 PROSHARES ULTRA SMALLCAP600 of Monday, April 22, 2024
| Fair opening price April 22, 2024 | Current price |
|---|---|
| £182.90 ( 0.598%) | £184.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SAA.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 186.60 | 1.41 % | |
| R2 | 185.19 | 0.645 % | ||
| R1 | 184.31 | 0.170 % | ||
| Current price: | 184.00 | |||
| Support | S1 | 181.49 | -1.37 % | |
| S2 | 180.61 | -1.84 % | ||
| S3 | 179.20 | -2.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 184.00 | |||
| Support | S1 | 183.50 | -0.272% | |
| S2 | 179.00 | -2.72% | ||
| S3 | 173.00 | -5.98% |
SAA Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 09, 2024 | May 09, 2024 | Jun 24, 2024 | £1.60 | 0.87% |
| 2 | Jun 08, 2023 | Jun 08, 2023 | Jun 08, 2023 | £1.50 | 0.86% |
| 3 | Sep 24, 2019 | Oct 24, 2019 | Nov 08, 2019 | £2.45 | 1.42% |
| 4 | Mar 27, 2019 | Jun 06, 2019 | Jul 05, 2019 | £8.51 | 2.45% |
| 5 | Mar 27, 2019 | Jun 05, 2019 | Jul 05, 2019 | £8.51 | 2.45% |
FAQ
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